The Debt Crisis

I was told last night about the Wolfson Economics Prize 
I'm not an economist, and don't understand half the questions on the list that need to be answered to win the £250K prize.
But I had a thought....

I remeber hearing as a kid about these people who trap monkeys. They would drill a small hole in a box, put some rice in it, and then wait. Along comes a monkey, sticks it's hand in the hole to get the rice...but now because it's hand is full it can't get it out of the small hole. Rather than let go, the monkey is so greedy it will cling onto the rice even as the hunter approaches and stuffs him in a bag. Literally caught by it's own greed.
The answer is to let go.

The Bible talks about a Year of Jubilee
Leviticus 25: 10
And you shall consecrate the fiftieth year, and proclaim liberty throughout the land to all its inhabitants. It shall be a jubilee for you, when each of you shall return to his property and each of you shall return to his clan.

The idea was incredible. Cancel all debt on this year. It was so redical. It would happen every 50 years. The idea is millenia old, but can you guess how many times the Year of Jubilee was celebrated? That's right, none. They were too greedy to give it a go, and eventually all ended up in slavery, time and time again.

What if we cancelled all debt?
What if we said to all the countries struggling to pay us back, your debts are cancelled. Not just lessened, postponed, but cancelled. What if all your mortgages and loans were cancelled.

My first thought is, Nah- it just wouldn't work...would it? It can't...can it?
What if?

Perhaps God's way might just turn out to work?